506 B
506 B
Pin-Maker Trade
Definition
A specialised manufacturing occupation focused on producing pins through a series of distinct operations, used by Smith as his primary example of division of labour's effects on productivity.
Source Chapter
Book I, Chapter 1
Context
Smith uses the pin-maker trade to illustrate how dividing 18 distinct operations among specialised workers dramatically increases output compared to a single worker performing all operations.
Economic Domain
Production